Thoughts on business, entrepreneurship, and life from a Silicon Valley entrepreneur and writer.

Friday, July 09, 2004

Beg, Borrow, and Steal

Joel Maske, the guy behind iSyndicate and old-school online financial shop Galt (back in the day, mutual funds paid him big money to set up brochureware sites in his mutual fund mall--before they realized they could set up their own sites), is back, this time with a C2C lending/rental play called Moogul.

Basically, it's eBay, but for borrowers. I like the concept (after all, who doesn't want free stuff), but I worry about the trust issues. What happens the first time somebody breaks something?

I think that a better idea is to set up sharing groups with your friends. I know that I would love to have a service of this kind, since many of my DVDs are still floating around out there!

You could also cross Moogul with a social networking play and really give it a kickstart.

3 comments:

Anonymous
said...

Yup, all kinds of issues arise when things are lost/broken. How much is it worth? Was it broken already? Strangely my friend talked to me with this concept only a few months back and I told him it wouldn't fly(but what do I know?)

You are right though, this is one of the features that could help differentiate the masses of "social networking" sites out there.

this bastard is an absolute thief. he lied to all his employees at isyndicate, screwed investors and struck a deal leading to the devestation of everyone involved... maybe other than him. isyndicate was no success. just look at fuckedcompany.com to find out postings from those days. now he is going to screw over more employees, investors and users. great!